Marketing requires an immeasurable amount of knowledge that can become overwhelming.
A ridiculous amount of tasks, from SEO management to marketing strategies, have to be thought through, to guarantee a smooth and successful business. Not to mention ensuring the safety of the enormous amount of personal information and data, that has to be gathered for marketing purposes.
But that's where tracking tools come in handy. Using them will not only eliminate mundane tasks but the need to worry about the effectiveness of antivirus or data security will be long gone, as everything is seamlessly taken care of.
To walk us through, what measures are taken to ensure marketing-related data protection, we invited Carl Otto von Rosen, Head of Product at My Telescope – the share of search analytics tool for marketers.
Tell us about your journey throughout the years. How did the idea of My Telescope come about?
Like many other startups, My Telescope was founded out of a concrete need by the founders. In this case, it was to solve an age-old problem: how do we show the financial contribution of your brand building and creative marketing efforts?
Concretely: how do you measure the effectiveness of your brand building and marketing creativity. By using the new metric called Share of Search, which has a proven correlation to market share, combined with sentiment analysis, they can help companies measure their brand strength and evolution in a matter of minutes.
Can you tell us a little bit about what you do? What methods do you use to analyze vast amounts of data?
I am the Head of Product and oversee the full development of the tool.
For data analysis, we use three main methods. The first is functions that will create the models we have around search data. The others are AI methods more precisely Natural Language Processing and Multi-Label classification
What are some of the most common issues new business owners face nowadays?
Some of the things for new business owners have never changed, like making one’s value proposition clear to the market amongst the noise, but what is more difficult now, is the struggle to find talented people.
The war on talent is very real and getting funding for new businesses is becoming increasingly more difficult.
How did the recent global events affect your field of work? Were there any new challenges you had to adapt to?
Global events have made marketing departments increasingly need to be data-driven and simultaneously more cost-efficient. Previously brand strength was continuously measured by performing surveys, which is time-consuming, pricy, and not always reliable data.
Our data is fast and cost-efficient, but we need to educate the market on a new way of thinking. In tumultuous times, people tend to stick to what they know, which makes it a larger challenge.
What other marketing tools do you believe can greatly enhance one’s operations?
When using My Telescope in combination with Google Analytics and automated marketing, one can come a long way.
Talking about cybersecurity, what would you consider to be the best practices organizations should follow nowadays?
We mainly work with available data but are now increasingly starting to enable users to upload their data to our system. This dramatically requires us to improve our cyber security. Making people aware of the sensitivity of what they upload and how they interact with us is the first start. More concretely we:
- Minimize access to sensitive customer data within our organization.
- Educate our users that we only communicate about their data within our system, to reduce the chances that phishing emails with our name can be used.
- Add additional two-step authentication to certain parts of data, especially when sensitive data can be downloaded.
- Make sure we have a good backup strategy with the cloud partners we collaborate with.
What tips would you give to brands looking to strengthen their relationships with their customers?
It’s important to create “mental availability”. Subconsciously we all have brands in mind that we “pull up” whenever it is time to solve a need we have. Make sure your band is part of that register by exposing yourself often and with a clear standpoint.
People will search for you at first, to find out more, and that’s already a good start. It’s them actively trying to find you, which will pay off in the long run.
How do you think the marketing industry is going to evolve in the next few years?
We’ll see a new increased interest in brand marketing. So-called “performance marketing” where people only look at digital conversion in the short run, has now reached its limits. Big brands, such as Airbnb already started reducing their digital marketing budget and focusing more on branding.
That trend will accelerate as people understand it is required to “fill” the top of the funnel…making people think of you as an option to start with.
And finally, what’s next for My Telescope?
We want to lead the movement that will have branded marketing complement the performance marketing by offering fast, affordable insights.
Our main goal now is to do that as well in the largest market and country that invented branding: the US.